https://www.taxtmi.com/caselaws?id=113305 Non-filing of the statement of affairs by ex-directors under the Companies Act, 1956 was treated as a continuing default because the duty to file persisted until compliance, and the statutory punishment provision contemplated a daily fine for each day of default. On that basis, limitation under section 468 of the Code of Criminal Procedure, 1973 did not bar the complaint, and section 472 applied to the continuing offence. The preliminary objection to maintainability was therefore rejected, with the later Supreme Court position preferred over the earlier contrary view. en-us Thu, 11 Mar 2010 00:00:00 +0530 Tue, 14 Oct 2014 12:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113305 Non-filing of the statement of affairs by ex-directors under the Companies Act, 1956 was treated as a continuing default because the duty to file persisted until compliance, and the statutory punishment provision contemplated a daily fine for each day of default. On that basis, limitation under section 468 of the Code of Criminal Procedure, 1973 did not bar the complaint, and section 472 applied to the continuing offence. The preliminary objection to maintainability was therefore rejected, with the later Supreme Court position preferred over the earlier contrary view. Case-Laws Companies Law Thu, 11 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113305